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Monitoring and Reputation: The Choice between Bank Loans and Directly Placed Debt
Journal of Political Economy, 1991This paper determines when a debt contract will be monitored by lenders. This is the choice between borrowing directly (issuing a bond, without monitoring) and borrowing through a bank that monitors to alleviate moral hazard.
Douglas W. Diamond
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From the Achievement Gap to the Education Debt: Understanding Achievement in U.S. Schools
, 2006The achievement gap is one of the most talked-about issues in U.S. education. The term refers to the disparities in standardized test scores between Black and White, Latina/o and White, and recent immigrant and White students.
Gloria Ladson-Billings
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Debt, Law, Realism, 2021
: This paper surveys the literature on sovereign debt from the perspective of understanding how sovereign debt differs from privately issue debt, and why sovereign debt is deemed safe in some countries but risky in others.
L. Martínez +3 more
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: This paper surveys the literature on sovereign debt from the perspective of understanding how sovereign debt differs from privately issue debt, and why sovereign debt is deemed safe in some countries but risky in others.
L. Martínez +3 more
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Journal of Financial and Quantitative Analysis, 2001
When firms adjust their capital structures, they tend to move toward a target debt ratio that is consistent with theories based on tradeoffs between the costs and benefits of debt.
Armen Hovakimian, T. Opler, S. Titman
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When firms adjust their capital structures, they tend to move toward a target debt ratio that is consistent with theories based on tradeoffs between the costs and benefits of debt.
Armen Hovakimian, T. Opler, S. Titman
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How Does Financing Impact Investment? The Role of Debt Covenants
, 2007We identify a specific channel (debt covenants) and the corresponding mechanism (transfer of control rights) through which financing frictions impact corporate investment.
S. Chava, Michael R. Roberts
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The Behavior of U. S. Public Debt and Deficits
, 1998How do governments react to the accumulation of debt? Do they take corrective measures, or do they let the debt grow? Whereas standard time series tests cannot reject a unit root in the U. S.
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The Maturity Structure of Corporate Debt
, 1995The authors provide an empirical examination of the determinants of corporate debt maturity. Their evidence offers strong support for the contracting-cost hypothesis.
Michael J. Barclay, Clifford W. Smith
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Debt, Deleveraging, and the Liquidity Trap: A Fisher-Minsky-Koo Approach*
, 2012In this paper we present a simple New Keynesian-style model of debt-driven slumps – that is, situations in which an overhang of debt on the part of some agents, who are forced into rapid deleveraging, is depressing aggregate demand.
Gauti B. Eggertsson, P. Krugman
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Board Characteristics, Accounting Report Integrity, and the Cost of Debt
, 2003Creditor reliance on accounting-based debt covenants suggests that debtors are potentially concerned with board of director characteristics that influence the integrity of financial accounting reports.
Ronald C. Anderson, S. Mansi, D. Reeb
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Founding Family Ownership and the Agency Cost of Debt
, 2003We investigate the impact of founding family ownership structure on the agency cost of debt. We find that founding family ownership is common in large, publicly traded firms and is related, both statistically and economically, to a lower cost of debt ...
Ronald C. Anderson, S. Mansi, D. Reeb
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